121,666 Shares in Park Hotels & Resorts Inc. $PK Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. bought a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 121,666 shares of the financial services provider's stock, valued at approximately $1,734,000. Northwestern Mutual Wealth Management Co. owned 0.06% of Park Hotels & Resorts at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PK. Amundi raised its position in shares of Park Hotels & Resorts by 1.9% during the 1st quarter. Amundi now owns 115,143 shares of the financial services provider's stock valued at $1,119,000 after purchasing an additional 2,179 shares during the period. Millennium Management LLC boosted its holdings in Park Hotels & Resorts by 849.3% in the 1st quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider's stock worth $5,595,000 after buying an additional 468,668 shares during the period. United Services Automobile Association bought a new position in Park Hotels & Resorts in the 1st quarter worth $152,000. Empowered Funds LLC increased its stake in Park Hotels & Resorts by 10.1% in the 1st quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider's stock worth $239,000 after buying an additional 2,058 shares in the last quarter. Finally, Focus Partners Wealth increased its stake in Park Hotels & Resorts by 30.6% in the 1st quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider's stock worth $199,000 after buying an additional 4,374 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Stock Performance

Shares of NYSE PK opened at $15.87 on Tuesday. The company has a market cap of $3.20 billion, a P/E ratio of -19.12, a P/E/G ratio of 2.09 and a beta of 1.34. Park Hotels & Resorts Inc. has a 52-week low of $9.84 and a 52-week high of $15.99. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.53 and a current ratio of 1.53. The firm's fifty day moving average is $14.76 and its two-hundred day moving average is $12.61.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. The business had revenue of $680.00 million during the quarter, compared to the consensus estimate of $659.68 million. Park Hotels & Resorts had a negative net margin of 6.41% and a negative return on equity of 5.23%. The business's revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. As a group, analysts anticipate that Park Hotels & Resorts Inc. will post 1.79 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.3%. Park Hotels & Resorts's dividend payout ratio is presently -120.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PK shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $18.00 price objective on shares of Park Hotels & Resorts in a research report on Friday, August 14th. LADENBURG THALM/SH SH increased their target price on Park Hotels & Resorts from $16.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, June 16th. Weiss Ratings raised Park Hotels & Resorts from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Truist Financial boosted their price target on Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a "hold" rating in a report on Tuesday, May 26th. Finally, Morgan Stanley upped their price target on Park Hotels & Resorts from $10.50 to $11.00 and gave the stock an "equal weight" rating in a research note on Friday, July 17th. Two analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $13.92.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company's primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.

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